Yes it is coming to PSVR. I thought it was coming the end of May but havent heard anything lately. But it seems like with PSVR titles they have game releases and announce the week of when they are releasing.
The "limit of 1 discount per transaction" doesnt mean you can only buy one card. Its basically means 1 type of discount, some times there can be a another sale going on this shuts that down. In the ad it even says "or more" at the top. So i dont see why they wont let you buy at least 500 worth...